This chapter looks at how the now well-known institutional investment approaches to adding value, such as diversification, evolved in the late nineteenth century and first half of the twentieth century. The chapter explores how ways to optimize returns while minimizing risk for long-term...

During the last decade, there has been wide agreement on the importance of dynamic capabilities on economic performance of firms. Simultaneously an increasing literature suggests that economic dynamics is embedded in social relations and social institutions. In this article, the determinants of...